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Prepare adjusting journal entries for the year ended 2/28/15.
1) An audit of cash in bank accounts and on hand reveals that $500 is mission from the company's 20 retail locations. (What does mission mean?)
2) A count of inventory indicated an ending balance of $64,750. Originally: $65,000
3) Dividends of $3000 were declared on investments in marketable securities. These dividends will be received in March 2015. The market value of the marketable securities was $48,000 at 2/28/15.
What is risk of material misstatement? What is the Specific audit procedure that you should take?
Laurel’s Lawn Care, Ltd., has a new mower line that can generate revenues of $135,000 per year. Direct production costs are $45,000, and the fixed costs of maintaining the lawn mower factory are $17,500 a year. The factory originally cost $0.9 millio..
Portman Corporation has retained earnings of $693,600 at January 1, 2014. Net income during 2014 was $1,491,000, and cash dividends declared and paid during 2014 totaled $83,700. Prepare a retained earnings statement for the year ended December 31, 2..
Cash budget The monthly cash budgets for the second quarter of 2010 follow ($000 omitted) for Morrison Mfg. Co
Journalize the adjusting entries at July 31 on the books of Crane Video Company and what amount of bad debt expense will Mingenback Company report if it uses the direct write-off method of accounting for bad debts?
Indicate how dividends should be distributed to the preferred stock and common stock. Total and per share.
What is the impact on net operating income by discontinuing housekeeping program and Input the amount as a positive value and should the housekeeping program be discontinued
Explain what zero-based budgeting is and how it can improve the efficiency of the organization?
Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method for Jones Soda Co. for the year.
Prepare a common-size income statement and balance sheet for McDonough Products. The first column of each statement should present McDonough Products' common-size statement, and the second column should show the industry averages.
Equivalent units for materials total 30,000. There were 24,000 units completed and transferred out. Equivalent units for conversion costs equal 27,000. How much are the physical units for conversion costs if ending work in process is 50% complete?
use the data below to answer the questions that follow. assume that the company uses the periodic inventory system.
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